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(H18) Downside Attacks Base.....>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (H18) Downside Attacks Base Of 5 Year Bear Channel
*RES 4: 116-117 Dec 18 high
*RES 3: 116-065/067 Dec 29 high, Dec 18 low
*RES 2: 116-032 Dec 13 low, now resistance
*RES 1: 115-240/270 Jan 4, Dec 26 lows, now resistance
*PRICE: 115-212 @1133GMT
*SUP 1: 115-155 Jan 10 low
*SUP 2: 115-062 7 week bear channel base projection
*SUP 3: 114-317 3 month bear channel base projection
*SUP 4: 114-252 61.8% Fibo of 108-152/124-320
*COMMENTARY* The downside found fresh impetus on Wednesday, moving below the 5
year bear channel base projection at 115-192 in the process. A low of 115-155 so
far, before once again encountering some near term oversold conditions. In this
respect look to 115-240/115-270 for immediate resistance. Back above the latter
would ease immediate pressure but the higher 116-032/116-067 area still provides
a tougher ask. Below 115-155 and two bear channel projections next.

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